Frontdoor Inc. $FTDR Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. boosted its Frontdoor stake by 38.2% in the first quarter, buying 30,576 additional shares and ending with 110,559 shares valued at about $5.84 million.
• Frontdoor reported better-than-expected quarterly results, with EPS of $0.73 versus estimates of $0.66 and revenue of $451 million versus $442.28 million expected. Revenue rose 5.9% year over year.
• The stock was trading around $74.87, near its 12-month high of $80.73, and analysts currently rate it a Moderate Buy with an average target price of $72.00.

Bessemer Group Inc. increased its position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 38.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,559 shares of the company's stock after purchasing an additional 30,576 shares during the period. Bessemer Group Inc. owned approximately 0.16% of Frontdoor worth $5,844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Frontdoor by 48.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,915 shares of the company's stock worth $704,000 after buying an additional 4,211 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Frontdoor by 10.9% in the first quarter. Sanctuary Advisors LLC now owns 3,980 shares of the company's stock valued at $210,000 after buying an additional 391 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Frontdoor by 3.8% in the first quarter. Hillsdale Investment Management Inc. now owns 160,340 shares of the company's stock valued at $8,476,000 after buying an additional 5,800 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Frontdoor by 5,724.2% in the first quarter. Fifth Third Bancorp now owns 30,111 shares of the company's stock valued at $1,592,000 after buying an additional 29,594 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in Frontdoor during the first quarter worth $580,000.

Frontdoor Trading Down 1.1%

Shares of Frontdoor stock opened at $74.87 on Tuesday. The company has a 50-day moving average of $69.11 and a two-hundred day moving average of $63.11. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $80.73. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. The stock has a market cap of $5.26 billion, a PE ratio of 21.45 and a beta of 1.46.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $451.00 million for the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. On average, research analysts anticipate that Frontdoor Inc. will post 4.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on FTDR. Benchmark started coverage on Frontdoor in a research report on Thursday, March 26th. They issued a "buy" rating and a $80.00 price objective for the company. Weiss Ratings lowered shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Frontdoor presently has an average rating of "Moderate Buy" and an average target price of $72.00.

Frontdoor Company Profile

Frontdoor, Inc NASDAQ: FTDR is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.

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